Can the stock market really outdo the Banking Index ($BKX)?

Below is a chart of the Banking Index.

Short term, you can see that the Banking Index was above its upper Bollinger band while the 9 day CRSI was coming down ... so there is an overbought element here.

On the long term, the Banking Index was starting an up trend due to its higher high that it made.

So short term risk is high and longer term risk is less due to its up trending.